<p>I want to apply to Northwestern ED this year to increase my chances of getting in to my DREAM school. However, there's only a certain amount of money my parents are able to pay due to multiple real estate disasters. I know if I get accepted ED I must commit to Northwestern, but what if my aid package is not enough? I'm not sure how all of that works, but I know that although my parents show a high income, we are having difficulty.
So basically what I'm asking is, would I be able to withdraw if the aid is simply not enough? How would I prove that I am unable to afford it (assuming the aid is not enough) and how would this affect my other applications?</p>
<p>I know the best solution is to not apply ED, but I’d really feel alot better knowing my chances were just a tad bit higher</p>
<p>If you can not pay for it, you will be allowed to get out of ED.</p>
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<p>Your chances will not be increased by applying ED.</p>
<p>I strongly advice you to apply early decision if it is your dream school. Universities will let you go from this “gentleman’s agreement” when you let them know that their financial aid will not suffice your needs at the school.
Sometimes a phone call is all that is needed to let you go from the binding agreement, but your parents’ income/papers that come into the school will be considered when they are deciding your financial aid. If they do not meet your needs, then they will understand.
Your inability to pay for NU would not affect your applications at other universities at all. Of course, you may run into the same financial issues at another school that you ran into with Northwestern. Other than that, your chances at a school do not depend upon whether you can afford it or not.<br>
I wish you the best of luck with NU, and look forward to an update! :)</p>
<p>@webass: Yes, they will. Applying ED shows colleges interest and commitment and allows them to lower the percentage of students they admit RD by admitting students ED, when yield rates approach 100%.</p>
<p>@OP: If NW is your dream school, apply early. It DOES increase your chances of admission, and if you don’t get the FA you need, you can always back out.</p>
<p>You need to sit down with your parents and find out just exactly how much they can pay. You also need to run the financial aid calculators to find out what the colleges/universities are going to expect them to pay. Start with the calculators at [EFC</a> Calculator: How Much Money for College Will You Be Expected to Contribute?](<a href=“http://apps.collegeboard.com/fincalc/efc_status.jsp]EFC”>http://apps.collegeboard.com/fincalc/efc_status.jsp)</p>
<p>Then you need to read through the threads in the Financial Aid Forum that deal with Northwestern. That way you will have a better sense of how NU deals with the kinds of financial issues your family has. It also is OK for you to contact NU, and ask about the formulas they use when they determine aid. Many financial aid offices will give out that kind of information if you ask politely.</p>
<p>The standard advice, if you need aid and your situation is at all complicated, is to not apply ED. It is better to cast a wider net, so that you have a better chance of getting the kind of aid you really do need from at least one college/university.</p>
<p>I really don’t know what the EFC calculator has to do with anything in this situation, but I guess parents just like posting it because they want to relieve the financial confusion for other families.</p>
<p>Anyway, applying early obviously helps (works a lot better if you have a visit/tour on record for NWU). And the issue with accepting financial aid packages after ED acceptance is the same for most schools. If they haven’t met 100% of your demonstrated need, you have no obligation to attend. Basically you decide whether the package works for you or not</p>
<p>All of this insight has been EXTREMELY helpful. Thank you everyone. I have one more question though, it’s to my knowledge that Financial Aid is determined off of tax returns, so how is an aid package determined for ED in november?</p>
<p>pch, , we parents post about the EFC calculator because it helps parents understand how much they will be expected to pay (even if it is often low). Parents and students need to have that discussion before anyone applies ED. Also, anyone applying ED needs to understand that a lot of the merit aid that is out there is gone once the student misses the EA deadline for other schools. </p>
<p>OP, NU is a CSS Profile school, so they will be working on last years taxes and the estimates for this year. It looks at many additional things than the FAFSA, including multiple properties, etc.</p>